So you’re looking for the best banks in America? Well you’ve come to the right place! Here at Good Banks, our mission is to help people find the right financial products based on their needs.
It can be daunting sorting through all the nitty gritty details from the hundreds of banks across the US, so we’ve taken the guess work away by obsessively researching dozens of products from the leading financial institutions in America to show visitors only the best of the best.
Whether you are a new student looking for the best place to open a bank account, a small business who needs advice on which banks have the lowest fees or maybe you’re looking to purchase a first home, Good Banks has all the in-depth information you’ll need to consider.
Here’s Our Top 5 Ranked National Banks For Americans
|Best Banks →||Ally Bank||Chase Bank||Wells Fargo||CitiBank||TD Bank|
|Best Checking Account||Interest Checking||Total Checking||Everyday Checking||Affordable Access||Convenience Checking|
|Checking Account Fee||Free||$12.00 Month||$10.00 Month||$10.00 Month||$15.00 Month|
|Balance To Waive Fee||N/A||$1,500||$1,500||$1,500||$100|
|ATMs In Network||46,000+||18,000+||12,000+||3,000+||1,500+|
- Ally Bank
- Interest bearing checking account with no monthly maintenance fees
- Massive network of ATMs (43,000 and counting) for Ally customers
- Excellent customer service 24/7 with posted wait times on their website
- → Read Our Ally Bank Review
- Chase Bank
- Reputable bank with a huge presence across America and 5,000+ branches
- Best option for having multiple financial products housed under one roof
- Excellent selection of credit cards with some of the most generous rewards
- → Read Our Chase Bank Review
- Wells Fargo
- Mid-sized bank with a good selection of low fee accounts & investments
- Excellent choice for students with no-fee options specifically tailored to them
- Great options for small businesses just starting out with many different options
- → Read Our Wells Fargo Review
- Large bank geared towards higher net worth clients with private bank services
- Strong credit card program with some of the best travel cards in the market
- Over 1,800 branches outside the US allows for easy-access while abroad
- → Read Our CitiBank Review
- TD Bank
- The best promotions for new account opening with up to $300 in bonuses
- Low threshold for waiving most fees associated with popular account options
- Competitive loan rates for personal, home and auto with flexible payments
- → Read Our TD Bank Review
Important Things To Consider When Opening A Bank Account
Opening a bank account is relatively easy these days with hundreds of bank account options across the US, most of which can be opened entirely online. When it comes to choosing the right bank account for you, there are tons of different things you’ll want to consider depending on the type of account you need, your financial objectives and the products that are offered.
Below we’ve listed some of the main considerations that Americans look at in their decision-making process when it comes to choosing the right financial institution to do business with:
Fees (or lack thereof): Perhaps the biggest factor that people look at when opening any kind of bank account is what type of fees they will be charged. In the US, this can range from free each month to upwards of $50 depending on the account type. Luckily with so much competition in the market, fees are generally under $20 a month for good checking accounts and these are waived usually with a balance of $1,500 or above. There are some good options as well (particularly online-only banks) that offer all their accounts with absolutely no fees at all.
Account Options: Since there is so many options in the US market when it comes to banking, one thing you’ll want to consider is both what type of accounts you need and if there is any advantage to housing them all at the same financial institution. For example, these days it’s quite common for people to have a checking and savings account, mortgage and some form of retirement investments. While you can generally get a better deal by shopping for these at different financial companies, some banks will incentivize you to have all these products under their brand, with special discounts, preferred services and access to account managers.
Accessibility: Depending on your intending use of your bank products, the amount of ATMs, physical branches and locations outside of the US might be important to consider. If you travel quite a bit or deal with a lot of cash transactions, you’ll want to find a larger bank that has a solid network of branches around the globe. Conversely, if you look to do most of your transactions electronically an online-only bank can be a great option with very low to no fees.
Bonus Offers: Particularly if you’re open a new checking account, it can literally pay to shop around for new account opening offers. With the huge amount of competitors in the US market, lots of bank are now offering bonuses to new account openers. These can reach hundreds of dollars simply for opening a new account, but generally have some conditions like a minimum deposit, setting up payroll deposits or committing to use specific financial products.